TheAsianparent to launch own baby products line after 7-figure raise

Southeast Asian parenting content platform theAsianparent announced that it has closed a seven-figure series C2 funding round from new investors Mirae Asset Financial Group and Naver Corporation through the Mirae Asset-Naver New Growth Fund.

The company said it will use the new funds to fuel its diversification strategy, which includes creating its own direct-to-consumer line of baby and maternity products.

TheAsianparent founder and CEO Roshni Mahtani

With the new vertical, theAsianparent looks to bank on the growing baby products market worldwide, which is expected to reach about US$16.8 billion by 2025, driven by an increasing female working population.

“Expansion into commerce is a natural progression for theAsianparent,” said company founder and CEO Roshni Mahtani. “As a purpose-driven maternal healthtech company, access to safe and healthy products at an affordable price point is complementary to the content we provide to our 30 million-strong parenting community.”

TheAsianparent also said it will allocate more resources into improving its tech infrastructure by investing in advanced machine learning and AI support and expanding its tech team.

The company plans to continue extending its reach to new markets with high fertility rates and work toward reaching its US$100 million revenue target within the next few years.

The latest investment follows the company’s eight-figure series C round led by Chinese international conglomerate and investment company Fosun.

At the time, theAsianparent said that it will use the funds to further develop its community-driven app, which it launched in September 2018, and expand to more markets in Asia and Africa.

The Singapore-headquartered company currently has activities in 12 countries.